USD vs CHF Approaching Resistance level

2014年5月14日

USD vs CHF is pushing off the previous low of .87021 and has been bullish the past five days after the ECB’s press conference. The pair is approaching a resistance level at .89196 and also sitting on the 100 MA. You can see divergence with price and the ultimate oscillator as price pushed off of the low indicating decreased momentum. Is the momentum now to the upside after a long bearish run? Breaking through the resistance at .89167 would lead us to believe there is more upside potential. I'll stand neutral until the market tells me what it is doing at this level. Have a great trading day and God bless!